401k

Judge throws out lawsuit against Cisco over BlackRock target-date series in 401(k) plan

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A lawsuit has been filed against Cisco Systems and its fiduciaries for allegedly violating ERISA regulations by not including a series of BlackRock’s target date funds as the plan’s Qualified Default Investment Alternative (QDIA). The lawsuit claims that this decision harmed participants in the plan. Cisco Systems and its fiduciaries are facing legal action for … Read more

Cisco Emerges Victorious in Lawsuit Concerning 401(k) Plan’s BlackRock Funds

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A federal judge recently dismissed a proposed class action lawsuit against Cisco Systems Inc. over its use of BlackRock Inc. target date funds in its employees’ 401(k) plan. Participants in Cisco’s retirement plan had raised concerns about how the company monitored the BlackRock funds, claiming that the comparison to “personalized benchmarks” was not helpful. However, … Read more